Food Thickeners Global Market Report 2022: Ukraine-Russia War Impact
Major players in the market are CP Kelco, ADM, Ingredion Incorporated, Ashland Global Specialty Chemicals Inc, Tate & Lyle PLC, Cargill Inc. , Jungbunzlauer Suisse AG, TIC Gums, Medline Industries LP, Archer Daniels Midland Company, Deosen Biochemical (Ordos) Ltd.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Food Thickeners Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06364856/?utm_source=GNW
, Solvay S.A., Vikas WSP Ltd., Guar Resources LLC, and Kent Precision Foods Group Inc.
The global food thickeners market is expected to grow from $10.61 billion in 2021 to $11.35 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The food thickeners market is expected to grow to $14.85 billion in 2026 at a compound annual growth rate (CAGR) of 7%.
The food thickeners market consists of sales of food thickeners by entities (organizations, sole traders, and partnerships) that are used to maintain the texture of food and also help to create texture. A food thickener refers to a substance, agent, or ingredient that is added to food to change its viscosity, with the help of thickeners, the food becomes stiffer and denser.
The main types of food thickeners are starch, protein, and hydrocolloids.Starch refers to a polysaccharide consisting of a large number of glucose monomers joined together by glycosidic bonds.
The sources include plants, microbial, and animals. These are used in bakery, confectionery, sauces, dressings, marinades, and gravies, beverages, dairy and frozen desserts, convenience, and processed food.
Europe was the largest region in the food thickeners market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in food thickeners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Extensive use in food and beverages is expected to propel the growth of the food thickeners market going forward.The food and beverage industry refers to the companies that engage in food processing, packaging, and distribution of packaged and freshly prepared dishes, as well as alcoholic and non-alcoholic beverages.
Food thickeners help the food and beverages industry by raising the viscosity of a diet or beverage and maintaining its consistency.For instance, according to the Agricultural and Processed Food Products Export Development Authority (APEDA), an Indian Apex-export trade promotion active government body, processed food product exports increased from $11,671 million in 2020-21 to $ 13,261 million in 2021-22.
Therefore, extensive use in food and beverages is driving the growth of the food thickener market.
Product innovations are a key trend gaining popularity in the food thickeners market.Major companies operating in the food thickeners market are innovating new products to sustain their position in the food thickeners market.
For instance, in April 2020, Kent Precision Foods Group, a US-based food production company offering dry mix food products launched Thick-It original food and beverage thickener available in fresh, innovative stick packaging in thin and thick consistencies.Thick-It original food and beverage thickener single-serve packets offer various unique features such as fast-mixing and simple to use, safely thickening hot or cold beverages, and pureed foods to the required consistency without changing the flavor.
Each serving is portioned and the flexible, narrow packets are undetectable, making them ideal for facility use where medical staff and culinary workers can swiftly and safely thicken meals and beverages without the need for further measurement.
In February 2021, International Flavors and Fragrances Inc, a US-based chemical manuffacturing company merged with DuPont Nutrition and Biosciences for an amount of $26.2 billion. With this merger, both companies can able to bring together IFF’s expertise in fragrance and food flavours and DuPont’s leading position. DuPont Nutrition and Biosciences (now Danisco Animal Nutrition & Health) is a Denmark-based company that produces natural food thickeners.
The countries covered in the food thickeners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The food thickeners market research report is one of a series of new reports that provides food thickeners market statistics, including food thickeners industry global market size, regional shares, competitors with a food thickeners market share, detailed food thickeners market segments, market trends and opportunities, and any further data you may need to thrive in the food thickeners industry. This food thickeners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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